Friday, November 18, 2005

China's Huawei Has No Listing Plans for Next 2 yrs

"Huawei Technologies, the mainland's largest telecommunications equipment maker, has no plans to seek a listing over the next two years as it has no urgent need for funds, The Standard reported, citing Huawei vice president Wang Liangwen."

"Huawei could raise up to 1.5 bln usd in an initial public offering on the back of its strong growth and high penetration in the international telecom market, the paper said, citing market watchers. Wang said Huawei will seek acquisitions overseas to compete with rivals such as Nokia, Motorola, Alcatel and NEC. He did not identify any potential targets."

"In the meanwhile, Huawei signed with Arcor a latter of intent. Under the letter of intent, Shenzhen-based Huawei will provide Arcor, Germany's second-largest fixed-line telecommunication operator, with a new-generation SDH system for all of Germany."